ICAP Plc Loses its Group Executive Director, John Nixon

ICAP Plc (IAP.L), a markets operator and provider of post-trade risk mitigation and information services, has revealed that John Nixon, longtime Group Executive Director for the Americas has resigned from the board, effective immediately, according to an ICAP statement.

This is the second high profile move at ICAP in the past few months, following the departure of Iain Torrens, Group Finance Director, who stepped down from his role on the executive board to join TalkTalk Group Plc.

Earlier today, ICAP made headlines with a court decision made by the District Court of New York, which dismissed ICAP from a class action lawsuit against the company, having defended itself against Libor Libor Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Read this Term allegations.

Mr. Nixon originally was appointed to his role as Group Executive Director – Americas at ICAP in 2008. He has garnered more than three decades of international experience with a number of interdealer brokers, having previously worked at Tullett Prebon.

Mr. Nixon also worked on the board as a non-executive director of ICAP between 1998 and 2002 – this paved the way for his eventual appointment as its executive director in mid 2008. During his tenure on the board, he was instrumental in promoting ICAP’s Americas business to the board, including the implementation of the ICAP SEF.